【SMM News Flash】Mexico Revokes 1,126 Mining Concessions, Affecting 889,000 Hectares Over Unpaid Fees and Missing Reports

Looking ahead to tomorrow, with the delivery period approaching, spot discounts in Shanghai spot copper are expected to continue narrowing steadily. Intraday, and quotes in the second session were generally raised, with the transaction center moving up somewhat. From a market-driver perspective, the continued decline in copper prices has kept stimulating downstream willingness to buy the dip; both purchasing and selling sentiment rebounded, and order activity increased, providing support for spot cargo. On the supply side, domestic copper and previously price-locked imported cargo continued to arrive, and overall circulation was relatively ample, placing some constraints on the room for discount recovery. Overall, spot discounts are expected to maintain a steady upward trend tomorrow.

[SMM SHFE Copper Spot] Looking ahead to tomorrow, as the delivery period approaches, spot discounts for SHFE copper are expected to continue narrowing steadily. Intraday, suppliers showed a stronger willingness to hold prices firm, and quotes in the second session were generally raised, with the transaction center moving higher. From a market-driver perspective, the decline in copper prices continued to spur downstream purchase willingness to buy the dip; both buying and selling sentiment rebounded, and order activity increased, providing support for spot cargo. Supply side, domestic copper and previously price-locked imported cargo continued to arrive, social inventory remained at high levels, and overall circulation was relatively ample, placing some constraints on the room for discount recovery. Overall, spot discounts are expected to maintain a steady upward trend tomorrow.